Personal Finance

Acorns: First month review


Have you heard of Acorns? It is an app available for both android and iphones that allows the every day person dip their toes into investing without knowing too much about investing. Which is probably not a great way to be investing but if you are like me and want to do some investing while still learning and reading up on all the literature, this is a great way to go.

I will be doing (roughly) monthly Acorns review to see progress. There are many reviews out there in the world wide web. But frankly, they are quite bipolar and being a hands on person, the only way I will truly be satisfied is if I try it out myself. And hopefully not get burnt in the process! If you are interested, here’s a referral link for you try it out: Show me the money! (Disclaimer, you and I both get $2.50 if you sign up through my link.)

The way Acorns work is that it ’round ups’ your spending and uses your change to invest. You can also transfer money directly into Acorns. It then takes this money and invest it into a range of ETFs depending on your choice of portfolio.

The details | Aggressive portfolio

I started my Acorns account on 19th of April 2017.

As of the 31st of May, I invested $109.47 through a combination of direct transfers and also ’round ups’

The exact breakdown:

Direct Transfers: $90

Round ups: $19.47

Note: there was no rhyme or reason to the amount I decided to transfer across. I was playing with the app and wanted to test its capabilities without sinking too much money in.

Growth or not?


This is what the mobile app UI looks like. This graph shows the changes in the last 31 days while the change in value reflects the changes since the last time I checked. All up, I have a net gain of $1.50, which is  an increase of 1.37% from my initial investment. The highest I saw my value reach was $111.66 but as is the nature of the stock market, that didn’t stay there. (At the time of writing, the market has opened on 1st of June and it has gone back up to $111.05.)

What has Acorns done with the money?

One thing I do like about Acorns is the web interface. It provides significantly more information than the app such as a breakdown of where the money is going. I have added a screenshot of what the interface looks like for interest sakes. I can see that majority of my money is going to ETF (STW) which gives me a tiny, tiny bit of the pie of our major companies.

Is Acorns worth the investment? It’s a little hard to tell at this point as ETFs are a long term game. But with Acorns’ monthly fee being $1.25 for balances under $5000, most of this month’s gain would then go towards the fee. Many reviews have said that the fee is exorbitant for what it is. I don’t think it would be fair at this point to agree as my initial investment was quite low.

Moving forward, I plan on using Acorns for at least a year. I will add in an investment of $100 (+ whatever roundups I end up with) per month and dutifully track how it goes for the year. If nothing else, it would be a $15 lesson (assuming no losses to my investment) on micro-investing.


If you use Acorns, I’d love to hear from you!








6 thoughts on “Acorns: First month review”

  1. Well done for your first month. This is quite strange as I have just started my own Acorns account around the same time as you and I have $109 in the account. Very similar results. Thanks for sharing your results.

    1. Ah, what a coincidence! I have to say I’m a little hooked on checking every night to see how the daily market is doing. I’m sure that novelty will wear out soon though, haha. Good luck on your Acorns journey too, I’m sure I will be reading about it on your blog too =P

  2. I too have an acorns account, but when I realised how ridiculous the fees were I threw a bigger chunk of money in. $1.25 a month is an insanely high fee for $100 balance (15%!!!), but much less painful with my $700 balance (2.1%)

    1. It really is insanely high, isn’t it? I’m contemplating upping my monthly contribution so that fees percentage doesn’t hit quite so much.

  3. I tried Acorns but like the other commenters here was put off by the relatively high fees. I decided to go old school and just deposit money into a savings account and then buy shares when I have a large enough balance to justify the costs of a transaction. Of course I’m probably not the target customer for Acorns as I can and do manage to save regular amounts each month.

    The other main selling point of ’rounding up’ your transactions just didn’t sit well with me. So with those 2 negatives I didn’t see the point in continuing and closed my account.

    1. I think I would have appreciated Acorns even as recent as a year ago. But since then my saving habits have amped up and spendings gone down, so I think I’ve also gradually slid out of their target market. I’m not sure if I will be able to complete my 12 month experiment to be honest!

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